Geode Capital Management LLC Has $228.63 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Geode Capital Management LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,260,050 shares of the biotechnology company’s stock after acquiring an additional 60,692 shares during the period. Geode Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $228,632,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. raised its position in BioMarin Pharmaceutical by 0.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after acquiring an additional 173 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock valued at $805,000 after purchasing an additional 180 shares in the last quarter. Voisard Asset Management Group Inc. lifted its stake in shares of BioMarin Pharmaceutical by 17.8% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 205 shares during the last quarter. GAMMA Investing LLC boosted its holdings in BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 281 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical during the second quarter worth $25,000. Institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $66.01 on Friday. The business’s 50 day moving average is $66.97 and its 200-day moving average is $77.14. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $12.58 billion, a PE ratio of 39.53, a PEG ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on BMRN. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Truist Financial dropped their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Barclays decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Finally, Piper Sandler lifted their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.